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New Construction

Lease / purchase

Phase 3: The construction of the remaining 11 residences.

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Progress Report

 May 8-14 , 2006 // CONSTRUCTION LOG #83

Contact phone numbers

Internet Phone:
New York: 315-279-6711
Toronto: 416-907-5758 // 416-461-2203

Costa Rica:
Cell: 506-305-3965
Land: 506-282-4142 Ext. 101

NOTE: the New York and Toronto numbers are "local calls" for people in the area codes; calls from outside the area code will be billed at the normal rate from the caller's area code to either the "315" or the "416" area code.


Pictures: house 101 and locker houses

The Story: Closing of 124/125, resale of 108, sale of 109 AND the next project

CONSTRUCTION

Weather: the rainy season has arrived-we often have several hours of rain in the late afternoon to early evening.

Units 101 / 102: The floor slab was poured on Monday. Collar ties were framed. Paul noticed that the framing was sufficient to support the spans, and modifications are being made.

Lockers and Houses: Most of the wood framing for the concrete has been removed. The upper structure is substantially framed. The roof will be entirely installed on Monday. Exterior boarding will begin next week and should be finished by week's end. Then we are dry above and below and we'll proceed on that basis.

Landscaping: The ficus bejamina hedges and trees are being trimmed-this occurs about three times a year. All the plants are loving the rain. We've now rebuilt all the pool pumps and replaced much of the filtration system-we should be good for the next couple years.

Electrical System Upgrade: The saga (nightmare) continues. No visible progress. The switch was acknowledged by the distributor of the transformer to be faulty. Warranty is still not settled.

Transition: another week of NO problems-business, mechanical as well as telecommunications systems worked flawlessly-and this continues to be progress!

Internet: Rock Solid!! This, too, is progress.

Dog: He is now free ranging at night. We had to teach him not to chase cats so put up an invisible barrier which activates an electrode on his collar. He learns fast.

Marketing: We closed on 124 / 125 and I got finishing instructions from the new owners.

The new owner of 108 who is also the owner of 120 were on site this week. I have some instructions from them re. decorating and modifications.

A person who had hoped to buy 108 subsequently decided to buy 109. That will close next Friday. That leaves us with three units-110 / 112 - each leased for 2 years, and 115 which will be available around July. There is still the question of 102-the house under ours which is the last to be built. Lita wants it but I don't.

Next Project: The vendor of the land has reduced his asking price some but he hasn't come down enough. We've given him a figure at which we'll be prepared to talk with him and cut him a check.

I completed the pro forma. It's been reviewed by two people. Both have expressed interest in it. Since it is based on a vision and no site plan, it will probably undergo substantial changes. In it, I assumed we are building 40 detached houses and 40 multiunit condo apartments with substantial water features and landscaping. We have several different investment scenarios-sale outright of up to 40% of our interest and/or the sale of up to 10 houses / 10 condos at a 15% discount to pre-construction prices. Those who have followed the development at Los Jardines know how profitable this has been for our early purchasers.

The sequence of events is that once we have secured the land, we will proceed to develop a site plan with lots and common element land and features. This will then allow us to refine the pro forma and reconfirm and / or to request definitive expressions of interest and to possibly accept reservations. This stage would be followed by detailing the legals.

OUR LIVES

Healthcare in Costa Rica: My experience: Over the past several weeks, I've been going through a series of medical tests. While I had one particular concern brought with me from Canada I also wanted a general physical since it had been two years since my last one.

I sought out and was referred through a previous resident to a specialist in internal medicine at CIMA hospital. I got an appointment in two weeks. The first visit is data gathering. A series of blood tests and X-rays and a full set of ultrasound images--$300. I received the instructions from the doc, went to where I was told, checked in, paid my fee according to what was to be done, didn't have time to sit down before I surrendered my body for the tests.-fast and efficient.

Those tests indicated a further follow up with a different specialist which I had expected. That appointment took 3 days to happen. When reviewing my history, he was very, very critical of the advice I had been given in Canada. He used the term "criminal recommendation". I scheduled another test-complete bone scan. I went to schedule the procedure-it could be done immediately. I paid my $300, and the procedure was started immediately. This would never have happened in Toronto... AND for some reason, there is a decent discount if you are a member of PriceSmart-go figure!!!!!

I also selected a dentist-a clinic had just opened very near here. Three days waiting time until my appointment. First the cleaning-just like I had experienced in Canada with two new pieces of technology: a digital X-ray and flat screen presentation, a whole digital head/mouth scan - the image flipped up on the screen almost instantly and the dentist was able to enlarge and otherwise manipulate it. Another piece of technology I hadn't seen before was a laser probe to detect cavities-somehow there is a change in the frequency and it gives of an audible alert when it detects a cavity-probably by density or hardness. The last thing which was new to me was a type of sandblasting of the teeth-this being an adjunct to the cleaning process and an attempt to wipe away 60 years of ordinary staining. Cleaning took about an hour -$30; the X-rays- $15. (yes, I have one cavity).

So far the experience has been so very, very different (and so much better) than in Canada...

I spent 5 hours -from 1pm to 6pm- going to 5 different stores and two of those 5 stores twice-just to by towels, bedding, sheets for 120. Sometimes it's really difficult to put things together here -this was probably the worst I've experienced.

Lita: The purchaser(s) of 108 and 120 arrived on Thursday (I had mistakenly spent several hours on Wednesday night at the airport waiting for their arrival-my mistake. They took us to a late dinner at the Argentinean restaurant and the principal gave Lita a BEAUTIFUL gold and diamond bracelet as a belated birthday present. He really wowed her and upped the anti for me. It was all a lot of fun... she reciprocated the next night with dinner for them which was very appreciated especially after an ill fated trip they took to view some beach view property - it was a wash out and not what they had been told. They were very disappointed that their time had been wasted.

Brian, Lita, Hugo and irreverent Vicka, the pigeon toed parrot.

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Unit 102
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Unit 124
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